Surf Rider is a 32-unit waterfront property located in Norfolk, VA. Built in 1964, this property offers a mix of one- and two-bedroom units with features such as hardwood floors, stainless steel appliances, and in-unit laundry in select units. Situated in the Hampton Roads region, the property benefits from a prime location near I-64, major employers like Sentara Healthcare and Naval Station Norfolk, and recreational amenities, blending coastal living with convenience. The property’s strategic position and mix of traditional and short-term rental options offer diverse income streams, capitalizing on limited beachfront availability and a robust rental market with 6.6% rent growth as of Q4 2023. The Norfolk market presents strong fundamentals, driven by its military, maritime, and emerging tech industries, alongside its proximity to the largest naval base in the world. This contributes $11 billion annually to the local economy, ensuring stable demand for residential units. Surf Rider’s recent renovations and beachfront amenities, such as direct beach access and a communal garden, add to its appeal. Additionally, the ongoing expansion of the Hampton Roads Bridge-Tunnel (HRBT) will enhance connectivity, potentially boosting tenant demand and property value. For more details, contact Dutch Seitz at dseitz@klnb.com or Cole Judd at cjudd@klnb.com